Loans

Keep it local

Whether you're buying, building or refinancing your dream home, we have mortgage loans to fill all kinds of scenarios with great rates and low fees. And, you can expect to borrow and pay right here with local service that you can count on from trusted Dupaco staff.

Home loan options

Conventional Financing (30, 20, 15 and 10-year terms)

Adjustable Rate Mortgages (5/1 and 7/1)

First-Time Homebuyer Loans

100% Financing Loans

Lot and Construction Loans

Veterans Loans

No-Closing Cost Options

USDA Financing

Mini Mortgage - Accelerated payoff terms, ideal for members who want to pay off their home in 10 years or less

Home improvement loans

Apply online in less than ten minutes. Prefer in-person or via phone? Schedule an appointment by calling 800-373-7600, ext. 204.

Become home buyer ready

Need some financial coaching before you buy a home? Dupaco can help:

Credit History Lessons: You'll need a good credit score to get approved for a loan at the best rate possible. A one-on-one lesson to teach members how to drive up and maintain a good credit score. Ideal for first-time home buyers.

Money Makeovers: Make sure your not over-paying for your debt and insurance. A Money Makeover with Dupaco is a free review of a your entire financial picture that looks for ways to pay less and save more, and can also covers credit scores, budgeting, asset review, systematic savings and retirement planning.

MoneyMatch Accounts: Teaches money skills and systematic saving habits to eligible participants who may earn a matched savings grant for eligible expenses, like a down payment on a home.

For more information on first-time home buying, mortgage insurance, and other resources and information, click on one of the tabs below.

And when you're ready to apply, we have mortgage loans that fit the bill and first-time homebuyer help through the Dupaco R.W. Hoefer Foundation First-Time Homebuyer Grant program. Those eligible may receive $1,000 in closing-cost assistance through this Grant.

First time home buyers may be eligible for special grant funding, reduced down payment requirements, discounts on closing costs, or a lower interest rate. By consulting with a Dupaco mortgage lender you will know whether you qualify for first time home buyer assistance.

Home Purchase Basics

There are many important things to consider throughout the process, especially if you're a first-time homebuyer. Here's some information that will keep you on track.

In General....

A home purchase may be your largest financial transaction to date, so it's important to make the right decisions and to keep an eye on the details. With the assistance of your Real Estate Agent and Loan Officer, it should be an efficient, pleasant, and ultimately rewarding experience.

Count On Your Real Estate Agent To:

Preview available homes to weed out those that are overpriced, or undesirable in some other way.

Present the homes that suit your needs as you've defined them.

Help you determine the difference between a "good buy" and a property which, because of its nature (location, market appeal, etc.), might have to be discounted if you decide to sell in the future.

Negotiate the best deal for you. With a Pre-Qualification letter from us in hand, your Real Estate Agent will be able to demonstrate that you are a qualified and capable borrower. This will strongly influence the Seller, and may make the difference between the Seller accepting your offer or someone else's -- even if your offer is lower!

Count On Your Dupaco Loan Officer To:

Assist you in selecting the best loan to meet your personal situation and goals. (This single decision can save you thousands of dollars throughout the years!)

Get the appropriate loan for you at the best rates and fees. This will save you significant money "up front" and throughout the years to come.

Count On Yourself To:

Keep your Real Estate Agent informed of any questions or concerns as they develop.

Keep the process moving by providing documentation and decisions in a timely manner. By doing so, many of the details are taken care of early in the process so you can comfortably concentrate on any last-minute details or events that require your attention.

Enjoy purchasing your home, but do remain objective throughout -- to make the business decisions that are best for you.

Make sure you are pre-approved as early as possible. This will put the power of financing behind you so you can concentrate on selecting your home.

How to get a loan

Throughout the loan-application process, we'll be at the ready to answer your questions and keep you informed of the status of your loan and loan closing.

Your Real Estate Agent or the Seller will designate an Escrow/Title Company to handle the funding of your loan, along with many other factors which make your purchase go smoothly.

We will coordinate with the escrow team and you'll sign the final papers at their office.

Be prepared: Mortgage checklist

The following information is usually required during the loan process:

Your Social Security Number

Current pay stubs or, if self employed, your tax returns for the past two years

Bank statements for the past two months

Investment account statements for the past two months

Life insurance policy

Retirement account statements for the past two months

Make and model of vehicles you own and their resale value

Credit card account information

Auto loan account information

Personal loan account information

If you currently own real estate, you'll need the following:

Mortgage account information

Home insurance policy information

Home equity account information (if applicable)

Insure your biggest investment

Safeguard your home (and car, business, and everything in between) with Dupaco Insurance Services. Because you're a part of a larger buying group of Dupaco members, you'll receive top quality insurance protection for much less. What's more, you can tap into the advice of our smart in-house insurance professionals — free — to find out whether you are adequately covered, what policy to get, and how much it will cost.

For a no-cost, no-obligation insurance review, complete this form or contact the Dupaco Insurance Services team at (563) 557-7600 / 800-373-7600, ext. 210, or insurance@dupaco.com. We look forward to going to work for you.

Dupaco Insurance Services is only licensed in the states of Iowa, Illinois, Wisconsin, Minnesota, and Arizona.

Dupaco Insurance Services is a division of Dupaco Financial Services, Inc., a wholly-owned subsidiary of Dupaco Community Credit Union. The purchase of insurance is not required in conjunction with the granting of any particular credit union service and the products offered are not endorsed or insured by Dupaco Community Credit Union. Mutual funds, annuities, and other investments: are not deposits; are not insured by the NCUA or any other regulatory agency; are not obligations of, or guaranteed by Dupaco Community Credit Union or any other affiliated entity; are subject to investment risks, including possible loss of the principal amount invested.

Printable documents

Members can find printable loan applications and disclosures pertaining to the mortgage application process here.

Comments (7)

Rental property

Craig D

• 184 days 3 hrs 25 mins 15 secs ago

What is dupacos credit score requirements for commercial mortgages?

Re: Rental property

Dupaco Moderator

• 182 days 19 mins 32 secs ago

Hi Craig, we will have a commercial lender reach out to you. Thanks!

Rental property

Craig D

• 184 days 3 hrs 25 mins 15 secs ago

What is dupacos credit score requirements for commercial mortgages?

Re: Rental property

Dupaco Moderator

• 182 days 19 mins 32 secs ago

Hi Craig, we will have a commercial lender reach out to you. Thanks!

grace period?

Aimee

• 913 days 6 hrs 2 mins 51 secs ago

Is there a grace period for mortgage payments? Our payment is due on the 1st but my husband doesn't get paid until the 5th.

Re: grace period?

Dupaco Moderator

• 910 days 6 hrs 15 mins 50 secs ago

Hi Aimee, Yes there is a grace period on your mortgage loan. Payments are due on the 1st with a 15 day grace period. Your payment must be satisfied in full by the close of business on the 16th of each month. Also, we can set up auto payments. You can give our Real Estate department a call at 563-557-7600 / 800-373-7600, extension 204 to get this set up.

Mobile home

Randy H.

• 924 days 17 hrs 44 mins 8 secs ago

Was wondering if u guys finance for mobile homes in the cedar rapids area.

Re: Mobile home

Dupaco Moderator

• 924 days 7 hrs 26 mins 49 secs ago

Hi Randy, yes, we do finance mobile homes. I will have a lender from one of our Cedar Rapids branches reach out to you today.

Time Share Purchase

Tanya

• 950 days 19 hrs 6 mins 21 secs ago

Does this type of property qualify for a motgage?

Re: Time Share Purchase

Dupaco Moderator

• 949 days 23 hrs 2 mins 53 secs ago

Hi Tanya, we currently do not have a Time Share Purchase mortgage financing option.

Flood Insurance Policy on Mortgage

JoAnn

• 961 days 8 hrs 31 mins 22 secs ago

I would like to know what Dupaco requires for flood insurance? Example if my loan is $70000 would you require enough to cover balance of loan or would you require enough to rebuild home?

Re: Flood Insurance Policy on Mortgage

Dupaco Moderator

• 959 days 7 hrs 18 mins 44 secs ago

Hi Joann, someone from our Real Estate department will reach out to you.

Manufactured Home loan

Sophia

• 1315 days 7 hrs 20 mins 45 secs ago

What is different about your manufactured home loans compared to a standard mortgage?

Re: Manufactured Home loan

Dupaco Moderator

• 1313 days 5 hrs 42 mins 31 secs ago

Sophia, Manufactured homes are typically handled in the Consumer Loan Department, unless the subject property is a double wide and affixed permanently to the land.

Down Payment

Drew I.

• 1322 days 2 hrs 54 mins 23 secs ago

Aside from a first time buyer program, do you offer mortgages that have zero down payment?

Re: Down Payment

Dupaco Moderator

• 1315 days 4 hrs 40 mins 14 secs ago

Hi Drew,
The only zero down payment loans currently available are a Veterans mortgage and Rural Housing. So the borrower would either have to be a veteran, or the property has to meet the Rural Housing guidelines. Thanks!